The basic old-age insurance for urban workers implements the system of "unified account combination", and the basic old-age insurance consists of two parts: social pooling and personal account. Social pooling is paid by the unit, accounting for 20% of the total wages of employees, and personal accounts are paid by employees, accounting for 8% of individual wages. The former is "pay-as-you-go", which is used to pay the pensions of retirees, while the latter is a "complete accumulation" system, which is closed for a long time, and the property rights are owned by individuals and cannot be transferred or borrowed in principle.
According to the reform idea, "institutions should establish the same basic old-age insurance system as enterprises, implement the payment by units and individuals, and reform the method of calculating and paying retirement fees." Then, if the "fully accumulated" personal account is "real", it will inevitably produce a large "fund pool".
However, at present, the mechanism of maintaining and increasing the value of the basic endowment insurance fund for urban employees is still not perfect. The vast majority of surplus funds are deposited in banks, and the purchase of government bonds has a single investment channel and a relatively low rate of return. According to the data of Ministry of Human Resources and Social Security, in 20 13 years, although the total assets of the national social insurance fund reached 4.77 trillion yuan, accounting for 8.3% of the GDP of that year. However, due to the lack of a diversified and market-oriented investment system, most of the funds are "lying" in the bank as financial special deposits, and the total amount of government bonds purchased and entrusted investment is only 71654,380+0 billion yuan, which is less than a fraction of the total assets.
From the perspective of return on investment, it is not only lower than the enterprise annuity fund (geometric average return on investment is 8.35%), but also lower than the National Social Security Fund Council (annual average return is 9.02%), and far lower than the average social wage growth rate (the average urban social wage growth rate in recent 20 years is 14.85%).
From all over the world, there are few assets invested and operated by pension funds, which are only realized in two places. 20 12 With the approval of the State Council, Guangdong Province entrusted the National Social Security Fund Council to invest and operate the pension 100 billion yuan. It is reported that Shandong Province will also entrust the National Social Security Fund Council to invest.
"In order to preserve and increase the value of pensions, we can follow the example of social security funds and enterprise annuities, increase entrusted working capital and implement diversified investment strategies." A social security researcher suggested.
In view of this problem, Ma Kai said that the next step will be to formulate the investment and operation methods of the basic old-age insurance fund, expand the investment channels, maintain and increase the value, and enhance the fund's ability to pay on the premise of ensuring the fund's safety.